ENGLEWOOD, Colo., Feb. 5, 2013 /PRNewswire/ --Starz, LLC, a
wholly-owned subsidiary of Starz (Nasdaq: STRZA, STRZB), along with
a Co-Issuer subsidiary of Starz, LLC (collectively the
"Co-Issuers") today announced their intention to offer $150 million in aggregate principal amount of
senior notes due 2019 (the "Notes"). The Notes are being issued as
additional notes under the indenture governing the Co-Issuers'
existing $500 million 5.00% Senior
Notes due 2019 ("existing 5% senior notes") and will have identical
terms to, and are expected to be treated as a single class
with, the existing 5% senior notes. The net proceeds from the
offering will be used to repay indebtedness under Starz'
existing senior secured credit facility and for general corporate
purposes.
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The Co-Issuers will make the offering pursuant to an exemption
under the Securities Act of 1933, as amended (the "Securities
Act"). The initial purchasers will offer the Notes only to
Qualified Institutional Buyers as permitted under Rule 144A of the
Securities Act. The Notes will not be registered under the
Securities Act or the securities laws of any other jurisdiction and
may not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the Securities Act.
In connection with the offering of the Notes, the Co-Issuers
will agree, subject to certain conditions, to file a registration
statement relating to a registered offering to exchange the Notes
for new registered notes having substantially identical terms as
the Notes.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation of an offer to
buy the offered Notes, nor shall there be any sales of Notes in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Forward-Looking Statements
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including without limitation, statements about the
completion of the offering, the use of proceeds from the offering
and the exchange of notes for registered notes. These
forward-looking statements involve many risks and uncertainties
that could cause actual results to differ materially from those
expressed or implied by such statements, including, without
limitation, general market conditions and our ability to complete
the notes offering and the registered exchange offer. These forward
looking statements speak only as of the date of this press release,
and Starz expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein to reflect any change in Starz'
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
Please refer to the publicly filed documents of Starz for
additional information about Starz and about the risks and
uncertainties related to Starz' business which may affect the
statements made in this press release.
About Starz
Starz (NASDAQ: STRZA, STRZB) is a leading
integrated global media and entertainment company with operating
units that provide premium subscription video programming on
domestic U.S. pay television channels (Starz Networks), global
content distribution (Starz Distribution) and animated television
and movie production (Starz Animation), www.starz.com.
Starz Networks is a leading provider of premium subscription
video programming through the flagship STARZ® and ENCORE® pay TV
networks which showcase premium original programming and movies to
U.S. multichannel video distributors, including cable operators,
satellite television providers, and telecommunications
companies. As of September 30,
2012, STARZ and ENCORE serve a combined 55 million
subscribers, including 21 million at STARZ, and 34 million at
ENCORE, making them the largest pair of premium flagship channels
in the U.S. STARZ® and ENCORE®, along with Starz Networks'
third flagship brand, MOVIEPLEX®, air more than 1,000 movies
monthly across 17 linear networks, complemented by On Demand and
authenticated online offerings through STARZ PLAY, ENCORE PLAY, and
MOVIEPLEX PLAY. Starz Distribution develops, produces and
acquires entertainment content, distributing it to consumers
globally on DVD, digital formats and traditional television.
Starz Distribution's home video, digital media and worldwide
distribution business units distribute original programming content
produced by Starz, as well as entertainment content for itself and
third parties. Starz Animation produces animated TV and movie
content for studios, networks, distributors and audiences
worldwide.
Contact:
Courtnee Ulrich
Starz Investor Relations
(720) 875-5420
courtnee@libertymedia.com
SOURCE Starz, LLC